Mnuchin Bid to Calm Markets Risks Making Bad Situation Worse

Some market participants, however, questioned why Mnuchin answered a question that no one was asking. Mnuchin tweeted late Sunday afternoon that he’d called the chief executive officers of the nation’s six largest banks and that those chiefs “confirmed they have ample liquidity available for lending to consumer, business markets, and all other market operations.” Treasury also said Mnuchin would convene a call on Monday with the President’s Working Group on financial markets.

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